Flextronics buys Hughes software firm

CBSMarketWatch

SAN FRANCISCO (CBS.MW) - In a deal valued at $226 million, Flextronics said late Monday it is buying DirecTV's 55-percent stake in Hughes Software Systems, India's leading communications software services provider.

Singapore-based Flextronics
FLEX, -0.07%
said the purchase of the India-based Hughes subsidiary from DirecTV
DTV, -0.27%
is one of the largest cross-border merger ands acquisition deals in India.

Flextronics said it will make an offer for the additional 20 percent of outstanding shares in Hughes software.

Australia's News Corp.
NWS, +1.43%
which acquired 34 percent of DirecTV in December, through its controlling interest in Fox Entertainment Group
FOX, +0.58%
previously said it would offer buy the outstanding Hughes Software shares, according to a statement from DirecTV.

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